LOUISVILLE, Ky. (WDRB) -- After considering the idea of raising its tax rate, it's likely Jefferson County Public Schools will lower its rate.
The board anticipates property value assessments to rise, and does not want to make more than 4% in revenue from the previous year, and subject the tax rate to a recall vote.
JCPS will decide on a final tax rate in the fall, but the decision to not exceed revenue above 4% means it will likely be lower than the current rate of 76.3 cents on real property and 76.8 cents on personal property.
The move means that tax rate number will be based off what generates a 4% increase in revenue, but nothing higher than that.
During a meeting Tuesday evening, the Jefferson County Board of Education heard plea after plea from the public to not raise its tax rate.
"You keep asking for more money, you put more money into something," one speaker said.
The initial recommendation could have increased the tax rate up to 4.8%, or up to 80 cents per $100 of assessed property. That means a home that costs $225,000 would see an $82 increase in property taxes.
However a motion from board member James Craig, and approval from the board, said the board will create a tax rate that generates 4% revenue.
The district will lower its tax rate, because it expects property value assessments to go up again and, in turn, still make a profit.
"Our property values are rising probably faster than other places," said board member Linda Duncan. "When they rise, that's what generates more tax, because people are having to pay higher taxes on the property that they own."
The board's decision to not subject the tax rate to another recall comes after a contentious legal battle in 2020 that allowed the district to raise the rate nearly 10% to 80.6 cents.
The board lowered the rate for two years because of a 1979 Kentucky law that generally limits the increases that local governments can receive from property taxes to 4% per year.
"We still owe it to the community to show results based on that increase, so I'm hesitant to go above the 4%," said Craig.
A recall would allow the public to petition and force the tax rate to a vote. According to state law, any rate that generates more than 4% in revenue is up for a recall.
Related Stories:
- JCPS to host public hearing over property tax rate increases Tuesday night
- JCPS to consider raising property taxes for the first time in 2 years
- JCPS board lowers property tax rate for second consecutive year
- JCPS property tax rate increase survives Kentucky Supreme Court appeal
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